Pearland Real Estate Expert

Associations Institute, more than 57 million residents in 23.1 million housing units were governed by HOAs in 2006; that's up from 45.2 million residents and 17.8 million housing units in 2000.

These associations provide many benefits, such as property maintenance and amenities that individual residents couldn't otherwise afford, and their rules often protect property values. But the dues HOA members must pay and the covenants, conditions, and restrictions (CCRs) they must follow rub some people the wrong way.

Look past the pool and golf course

Your perfect condo may have a great pool or your dream home might be sitting on the first tee, but remember that those things are only part of the HOA's scope. When you purchase a property governed by an HOA, you enter into a legal contract with the association. You agree to abide by the association's regulations and pay its dues. In exchange, you get a community guided by an HOA and the access to its facilities and perks.

Read before you buy

Make sure that any uses or freedoms you expect to come along with your property are allowed in the CCRs. Do you store your boat trailer in your driveway? I doubt your CCRs will allow that. Want to paint a bright color? Check the color palette allowed by the HOA.

You may have heard horror stories of home repossessions and other legal squabbles involving property owners and HOAs. A common theme among many of these cases is homeowners not understanding the regulations or ignoring them. Review the CCRs carefully before you purchase the property and you'll be less likely to run afoul of your HOA.

About those dues ...

HOAs run on dues - your annual fee for living in the community. These fees range from tens to thousands of dollars, depending on the neighborhood or building and what amenities it offers or what things are covered. Ask how much the dues are and if they've increased during the past few years.

Find out what the dues cover and what they don't. For example, your condo association may perform all exterior maintenance. That means when the roof leaks, your dues pay for its repair - even if you live on the ground floor of a three-story building.

Who's in charge?

When you review an HOA's documents, be sure to inquire about its finances. Is the HOA solvent? Does it have a reserve fund? Who controls the money? What kind of oversight is that person subject to?

Find out who manages the HOA and what role residents have in its governance. There may be a board or other group of property owners who manage the association. Take some time and talk to people who currently live in the community. How do they feel about the neighborhood or building? Find out their impressions of how the HOA is run.

Perform some due diligence before you sign a contract to purchase a property governed by a homeowners association. You will be able to make an informed decision about the HOA's pros and cons without jeopardizing your real estate transaction.

For expert advice about HOAs and all kinds of information about owning, buying, or selling a home, contact a Realtor.

Whether you're interested in buying your first home, your next home, or just want to know more about homeownership in general, I encourage you to check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com.  All of these sites offer tons of useful, real estate-related information geared specifically for Texans.

Danny Frank is a local Pearland TX Real Estate expert.

This column was published in the 29June08 edition of the Galveston County Daily News

In my last column, we considered some surprising facts about Texas homebuyers, based on a recent survey of Texas homebuyers and sellers. This time, we look at the seller side of the equation.

First off, you're probably thinking that folks who sell their home want top dollar and they want it sold as quickly as possible. And you'd be right. The typical home for sale in Texas is on the market for six weeks, and a majority of sellers (54 percent) don't reduce their asking price before the home is sold, according to a recent survey of Texas real estate consumers by the National Association of Realtors®.

The demographics of Texas sellers

In Texas, the median age of Texas home sellers is 46, compared to the median buyer age of 41; the median household income for sellers is $89,500 vs. $75,000 for buyers. Seventy-three percent are married and 49 percent have no children under 18 living at home. Other findings:

• Typical sellers own their home for five years before selling.
• 89 percent use a real estate agent or broker to sell their home.
• 67 percent of all sellers are very satisfied with the selling process.

Conclusion: Texas home sellers tend to be older and more affluent than buyers, which makes sense when you consider that the median age for first-time buyers in Texas is 33 and the typical seller puts his home on the market after owning it five years. As time goes on, Texas homeowners build equity while increasing their incomes, which helps them at resale.

Sellers and their real estate professional

Nearly three-fourths (72 percent) of all sellers in Texas contacted only one agent before selecting them to help sell the home. When selecting a real estate professional, 45 percent of sellers received a recommendation from a friend, neighbor or relative. Other findings:

• 77 percent used an agent who provided a broad range of services and managed most aspects of the sales transaction for them.
• 63 percent of sellers said they'd definitely use the same agent again.
• 41 percent used the same agent to help them buy their next home.

Conclusion: Most sellers are very happy with their real estate professional, and tend to rely on recommendations from people they trust when choosing an agent.

The residential real estate market in Texas

Despite national headlines to the contrary, the residential real estate market in Texas remains comparatively healthy. In fact, the median-home sales price in the Greater Houston-Galveston area remained stable during the first quarter of this year, according to data from the Real Estate Center at Texas A&M University.

Interest rates remain at historic lows. Add to that healthy job growth statewide and an affordable cost of living, and the Texas real estate market looks pretty solid. Why do you think Texas has now surpassed Florida in domestic migration?

What stories in the media tend to overlook is the fact that all real estate is local. Texas sellers, with the proper counsel, are in a position to make wise decisions based on local market conditions.

Conclusion: Economic conditions point to a continued healthy real estate market here in the Lone Star State. As Texans, we're used to bucking national trends and this is no different.

Information for sellers, buyers and current owners

Whether you're interested in buying your first home, your next home, or just want to know more about homeownership in general, I encourage you to check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com.  All of these sites offer tons of useful, real estate-related information geared specifically for Texans.

Danny Frank is a local Pearland TX Real Estate expert.

This column was published in the 22June08 edition of the Galveston County Daily News

What have you done for me lately???? Well lets look at what TREPAC has done and will be doing.... 

The Texas Association of REALTORS® and TREPAC can point to a long string of successes. Here are just a few recent examples:

• Transportation taxation
• Mortgage fraud
• Title companies
• MLS consumer protection
• Private transfer fees
• Property-tax relief

You can also see what TREPAC has saved you last year.  Just put in your numbers and you can see what they did for your last year and ongoing years to come.  http://texasrealtors.com/web/4/33/SavingsCalculator.cfm

We are having a fund raiser for TREPAC Aug 9, 2008 from 7 to midnight at Alex Rodriguez Mercedes Benz, 500 Hwy 45, League City, TX 77573.  Tickets are only $35.00 and that gets you a $35.00 donation to TREPAC, 2 premium drink tickets, Food, Valet Parking and $5000.00 in casino money....

For more information on buying or selling property in Texas, I invite you to visit http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com.  Danny Frank is a local Pearland Real Estate expert.  I would love to help you sell your house and help you find your next home.

The price trend for all of Pearland TX real estate is holdings it's own.  The median price is up $6000.00 vs. last year at this same point and we actually sold more homes this year than last year.  As you can see by the charts below, we are trending up from the month before.  But as you look at the data, you can see the Pearland TX Real Estate average home price is above last year's price.  Pearland TX real estate is a GREAT buy right now.  So with that said, Pearland Texas is a great place to buy or sell a home.

As you can see by this next chart, the MSI, or Months Supply of Inventory, is at 83 days or about 4 months.  What dose that mean for the average home seller in Pearland TX??? It means it will take an average of 83 days to sell your house.  The one thing that will effect that time is PRICE...  If you need to sell your house faster you will need to price it lower than the competition for like kind houses...  So by my standards and the National Association of Realtors®, Pearland is in a SELLERS Market... NAR states that natural market is 6.1 months of inventory.  Pearland is at 4 months of inventory.

For more information on buying or selling property in Texas, I invite you to visit http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com.  Danny Frank is a local Pearland Real Estate expert.  I would love to help you sell your house and help you find your next home.

Short of a reality television show about homebuyers (I think there actually was one on cable TV for awhile, but it was set in California), have you ever wondered what their habits are like here?

A recent study conducted by the National Association of Realtors® and commissioned by the Texas Association of Realtors®, reveals a lot about Texas homebuyers and sellers. For starters, unlike in California, you don't have to be a millionaire to own a home in Texas.

What types of homes do Texans buy?

The vast majority (86 percent) of homes purchased in Texas are detached single-family homes. The typical buyer purchases a home within 18 miles of his previous residence. Other findings:

· Median Texas purchase price: $156,000, compared to $214,000 nationally.

· Typical size of a Texas home: 2,089 square feet.

Conclusion: Texas home prices compare favorably with those in other states.

The demographics of Texas homebuyers

The median age of homebuyers in Texas is 41; among first-time buyers, it's 33. The median household income is $75,000, compared to $71,800 nationwide. Fifty-six percent of Texas buyers reported having no children under 18 residing in the home. Other findings about Texas buyers:

· 68 percent are married couples, 20 percent single women, five percent single men and five percent unmarried couples.

· First-time buyers account for 35 percent of all homes purchased; 53 percent of first-timers are between the ages of 25 and 34.

· The median income of first-time buyers in Texas is $62,700, compared to $58,300 among all first-time buyers nationally.

· Texas homebuyers plan to live in their home a median of eight years.

Conclusion: Buyers' incomes in Texas compare favorably to the rest of the U.S.

How do Texans find their next home?

Texas homebuyers search for a home for a median of eight weeks and see a median 11 homes. Eight-seven percent of Texas homebuyers use a real estate professional during their home search. Sixty-two percent use the Internet frequently to search for homes. The typical Internet home-searcher in Texas is 39 years old and views information about a median 12 homes online. The typical homebuyer who does not use the Internet in her search is 49 years old and sees a median of eight homes. Other findings:

· 30 percent of Texas buyers first learn of their new home from a real estate professional; 25 percent first learn about their new home while searching online.

· 75 percent of buyers view the Internet as a useful tool in their home search; 69 percent rate real estate agents as a very useful source.

Conclusion: Many buyers do their initial home search online - and are able to rule out some properties without ever physically visiting them. However, nearly 90 percent of all buyers, whether or not they use the Internet as a research tool, still retain the services of a real estate professional to help them through the process.

How do Texans pay for these homes?

Ninety-nine percent of all Texas homebuyers finance their purchase; 100 percent of first-time buyers finance, compared to 98 percent of repeat buyers. Other findings:

· 81 percent of first-time buyers use savings for the down payment.

· 57 percent of repeat buyers use proceeds from the sale of their primary or previous residence for the down payment; 49 percent rely on savings for part of the down payment.

· 48 percent of all Texas buyers believe that their home purchase is a better financial investment than stocks.

Conclusion: The American Dream of owning your own home is alive and well in Texas.

Information for buyers, sellers and current owners

Whether you're interested in buying your first home, your next home, or just want to know more about homeownership in general, I encourage you to check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com.  All of these sites offer tons of useful, real estate-related information geared specifically for Texans.

Danny Frank is a local Pearland TX Real Estate expert.

This column was published in the 15June08 edition of the Galveston County Daily News

Southwyck, Pearland TX Real Estate SOLD  -  The 2 story split plan at 3602 Hanover Circle has been sold.

Danny Frank of Keller Willilams has SOLD another house.  Do you have real estate in Pearland TX you need to sell? Call me and I will get it SOLD for you fast... Put a SOLD sign on your house instead of a For Sale sign with my help.  Call me at 713-569-8102 or visit my site at http://www.danfrankrealty.com/

Property information

Homebuyers make their purchases based on many factors. But surveys have shown that the most important factors to them are the safety and quality of the neighborhood, followed by the performance of the school district.

Even if you believe statistics are a bunch of hooey, think about why you bought your home. Maybe it's closer to your office or in an area where you could afford an extra bedroom, but I bet you looked pretty hard at the safety of the neighborhood.  And once you expend the substantial energy it takes just to find the right house in a neighborhood you feel comfortable in, you need to get involved to keep it the safe environment that attracted you.

Make it difficult

Preventing crime in your neighborhood begins with securing your home. According to the National Crime Prevention Council, approximately 60 percent of successful burglaries involve the perpetrator gaining access to a property through an unlocked door or window. Put sturdy locks on your doors and windows and use them.  Criminals focus on easy targets. Using the locks on your doors is a good start, but you also want to trim bushes and trees to eliminate places for burglars to hide and install lighting in entryways, porches and alleys.

Howdy, neighbor

Talk to your neighbors. Spend time chatting over the fence, and find out what their concerns are about the neighborhood. You don't need to become best friends forever with the people next door, but it's human nature to look out for people you know. If you go out of town, they'll pick up your mail, take in your trash barrels, and make it look like you're home. Host an open house and invite everyone on your street. Even if you've lived in the same area for years, the homes around you may have changed hands several times. Take the time to get to know your neighbors and discuss your concerns about the neighborhood and community.

Watch out

Join a neighborhood watch program. You receive training in crime prevention and agree to look out for each other's safety and property. There will be periodic meetings of participants to share information. If there's no watch organization in your neighborhood, start one with help from the police department  Every year, there's the National Night Out that encourages people to get out and meet their neighbors. Take advantage of it.

Fix broken windows

If you don't care about streetlights working and parks staying clean, no one else will either. That kind of collective apathy attracts criminals who wonder what else you don't care about - watching out for your neighbors? Locking your doors?  Call the city to fix broken lights, mow green spaces, and repair street signs. Work with law enforcement, civic groups, schools, local businesses, community agencies, churches and service clubs to clean up abandoned lots, boarded-up buildings, and other community eyesores. If you're having trouble getting something fixed in your area, contact local politicians and let them know your concerns. It's their job to help constituents solve problems and neighborhood issues. Remember that those who make the most noise get heard.  For all kinds of expert advice and information about owning, buying, or selling a home, contact a Realtor and visit www.HAR.com.

For more information on buying or selling property in Texas, I invite you to visit http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com.  Danny Frank is a local Pearland Real Estate expert.

This column was published in the 08June08 edition of the Galveston County Daily News.